One World Holdings, Inc. (OWOO) Subsidiary Enters into Finan One World Holdings, Inc. (OWOO) Subsidiary Enters into Financing Relationship with Blackbridge Capital
Today before the opening bell, One World Holdings reported a development regarding its subsidiary, The One World Doll Project. The One World Doll Project recently entered into an $800,000 private equity partnership with New York-based hedge fund Blackbridge Capital and a group of private equity investors who will focus on debt reduction and balance sheet enhancement.
“Over the past 18 months, the company has taken on several large convertible notes that have had the unfortunate effect of creating derivative liabilities on our balance sheet and downward pressure on our stock price as a result of simultaneous conversions of those notes into stock at a substantial discount to market,” stated Joanne Melton, CEO of One World Holdings. “By the end of the third quarter we will have consolidated and eliminated several of our most expensive institutional and private convertible notes totaling over $415,000. The purpose of this initiative is to phase out at least 50% of the total company debt by the end of 2014,” she added.
“We are thrilled to partner with One World Holdings while enhancing their balance sheet, increasing shareholder value, and providing advice on business plan execution,” said Alexander Dillon, Co-Founder and Chief Investment Officer of Blackbridge Capital. “We are also extremely proud of the diligent efforts of the One World management team as we work together to eliminate derivative liabilities and secure key business development milestones, including the most recent achievement of locking up a premier spot at Toy Fair 2015 where the company will unveil its new line of Prettie Girls! dolls created in partnership with Robert Tonner and The Tonner Doll Company.”
Established in 2010, The One World Doll Project endeavors to make a significant positive cultural impact through the doll category. The company’s beautiful dolls are unique works of art, created for a growing market yearning for something unique to experience — a doll that both embraces contemporary girls of many races and symbolizes the women they can become.
The One World Doll Project has created The Prettie Girls!™ dolls, an exciting line of multi-cultural fashion dolls, years in development, recently launched in the marketplace. The Prettie Girls!™ are unique in their look, their backgrounds, and their stories, and The One World Doll Project has signed agreements with Toys “R” Us and other important retailers for extending their market availability.
For more information, visit www.oneworlddolls.com
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